Feds leave rates unchanged

The Federal Reserve left borrowing costs unchanged, continuing to delay any rate moves amid persistently low inflation. The U.S. central bank voted unanimously Wednesday to maintain its benchmark interest rate in a range of 2.25 percent and 2.5 percent, a move that many anticipated despite stronger-than-expected growth in the first quarter of 2019 and an …

Selling your Home in less than 10 Years?

An Adjustable Rate Mortgage provides a specific fixed rate term before becoming an adjustable mortgage.  An example: A 10/1 ARM is fixed for the first 10 years and then becomes a 1 year adjustable rate for the remaining term of the mortgage, thus giving you 10 years  of security at a fixed rate. Advantages: If you know …

Understanding how your Credit Works

Credit scores were developed by Fair Isaac and company (FICO). The models created using FICO take all the detailed information about your credit report and produce your credit score using different weights and factors contained in the FICO scoring models. The purpose of a FICO score is to show how likely you are to become …

How to Shop for a Mortgage

After hitting record lows of 3.250% last year, mortgage rates have inched up a little and in the grand scheme of things...it is only a little!  The trend of course is upwards and like the stock market, it is not a straight line up, we have good days and bad days in the markets and Mortgage …

The Good Faith Estimate

A good faith estimate (GFE) must be provided by a mortgage lender or broker in the United States to a customer.  The estimate must include an itemized list of fees and costs associated with the loan and must be provided within three business days of applying for a loan.  These mortgage fees, closing costs and …

10 Tips for First Time Homebuyers

1.  Be picky, but don't be unrealistic.  Your first home may need a little work, some paint, carpet and perhaps some other updates.  Remember, this is your first home and the first step in investing in your future. Don't avoid a home because it has bright pink walls or ugly floors.  Do avoid a home …

As the Dust settles…mortgage rates improve!!

As I spoke a little the other day in the midst of the mortgage rate meltdown, many of us suspected that this was Wall Street overreacting to the Fed’s comments.  Now, before I say I told you so, we have to analyze what Ben Bernanke said last week.  It was clear and there were two …

So…What happend to Mortgage Rates??

As we have learned…The Fed, The Economy and Wall Street are very similar to the weather here in New England, just wait 5 minutes and it will be different. In this case it was a True Nor’ Eastah!! The Fed, which can be a love hate relationship, has a strategy that has been open-ended, it …

National Open House Weekend April 20 and April 21, 2013

Did you know it is National Open House Weekend?  The National Association of Realtors is expecting to sell almost 10% of the current inventory. With lots of homes on the market and great low rates, this spring market is turning out to be fantastic!  This weekend real estate agents from around the area will be …

Another Reason to Own A Home

In case you need another reason to purchase a home for you and your family; Here is an article I just read in the National Mortgage Professional Magazine, "Study Concludes Homeownership Tied to Positive Outcomes for Children".  According to a new study by professors Richard K. Green and Gary D. Painter at the University of …